Stifel Nicolaus Lowers Bowlero (NYSE:BOWL) Price Target to $24.00

Bowlero (NYSE:BOWL – Get Rating) had its price objective dropped by research analysts at Stifel Nicolaus from $26.00 to $24.00 in a research note issued on Thursday, The Fly reports. Stifel Nicolaus’ target price points to a potential upside of 108.70% from the company’s previous close.

Several other brokerages also recently weighed in on BOWL. Jefferies Financial Group assumed coverage on Bowlero in a research note on Wednesday, April 19th. They set a “buy” rating and a $23.00 target price for the company. JPMorgan Chase & Co. increased their target price on Bowlero from $18.00 to $20.00 in a research note on Friday, March 17th. Canaccord Genuity Group assumed coverage on Bowlero in a report on Wednesday, March 8th. They issued a “buy” rating and a $22.00 price target for the company. Oppenheimer upped their price target on Bowlero from $16.00 to $18.50 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Finally, Craig Hallum assumed coverage on Bowlero in a report on Friday, February 24th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Bowlero presently has an average rating of “Buy” and an average target price of $20.75.

Bowlero Stock Performance

BOWL opened at $11.50 on Thursday. The company has a market cap of $1.90 billion, a PE ratio of -27.38 and a beta of 0.20. The stock has a 50-day moving average of $14.88 and a 200-day moving average of $14.32. Bowlero has a 52-week low of $8.71 and a 52-week high of $17.45.

Bowlero (NYSE:BOWL – Get Rating) last announced its earnings results on Wednesday, May 17th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Bowlero had a negative net margin of 5.26% and a negative return on equity of 271.63%. The business had revenue of $315.73 million for the quarter, compared to the consensus estimate of $302.34 million. During the same quarter in the previous year, the company earned $0.30 EPS. On average, research analysts predict that Bowlero will post 0.51 earnings per share for the current year.

Insider Transactions at Bowlero

In related news, CFO Robert M. Lavan bought 8,595 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $11.47 per share, with a total value of $98,584.65. Following the acquisition, the chief financial officer now owns 8,595 shares in the company, valued at approximately $98,584.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Robert M. Lavan bought 8,595 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $11.47 per share, with a total value of $98,584.65. Following the acquisition, the chief financial officer now owns 8,595 shares in the company, valued at approximately $98,584.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas F. Shannon sold 204,604 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $16.17, for a total value of $3,308,446.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,200,627 shares of company stock valued at $78,451,248. Corporate insiders own 53.65% of the company’s stock.

Institutional Investors Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Bowlero by 8.1% during the 3rd quarter. Arizona State Retirement System now owns 10,981 shares of the company’s stock valued at $135,000 after purchasing an additional 826 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Bowlero by 42.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company’s stock valued at $38,000 after buying an additional 911 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bowlero by 9.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,514 shares of the company’s stock valued at $236,000 after buying an additional 1,457 shares during the period. California State Teachers Retirement System increased its stake in shares of Bowlero by 3.5% in the 3rd quarter. California State Teachers Retirement System now owns 50,941 shares of the company’s stock valued at $627,000 after buying an additional 1,705 shares during the period. Finally, State of Wyoming increased its stake in shares of Bowlero by 17.0% in the 4th quarter. State of Wyoming now owns 12,799 shares of the company’s stock valued at $173,000 after buying an additional 1,863 shares during the period. 64.88% of the stock is owned by institutional investors and hedge funds.

About Bowlero

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Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.